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What's in the Cards for First Solar (FSLR) in Q3 Earnings?
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First Solar, Inc. (FSLR - Free Report) is slated to report its third-quarter 2023 results on Oct 31 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 94.74%. First Solar has a trailing four-quarter negative earnings surprise of 0.94%, on average.
Factors to Note
Strong bookings and the ramped-up production of Series 7 modules, backed by solid demand in the solar market, are likely to have added impetus to the company’s top line in the third quarter of 2023. An increase in the module average selling price (ASP) must have also boosted its third-quarter revenues.
Moreover, augmented manufacturing capacity may have favorably added to the overall revenue performance in the third quarter.
The Zacks Consensus Estimate for FSLR’s third-quarter revenues is pegged at $901 million. This suggests growth of 43.3% from the year-ago reported figure.
The strong top-line performance is likely to have aided the bottom line of the company in the third quarter. An increase in module ASPs, lower sales rate costs and higher volumes of modules produced and sold in the United States may have contributed to its gross margins. This must have bolstered overall third-quarter earnings.
The Zacks Consensus Estimate for First Solar’s third-quarter earnings is pegged at $2.08 per share. This implies a massive improvement from the prior-year reported loss of 46 cents per share.
Our proven model does not conclusively predict an earnings beat for FSLR this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -0.94%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three companies from the same sector you may want to consider as these have the right combination of elements to post an earnings beat this season:
ConocoPhillips (COP - Free Report) currently has an Earnings ESP of +18.19% and a Zacks Rank #2. The Zacks Consensus Estimate for ConocoPhillips’ third-quarter sales is pegged at $14.71 billion.
Estimates for the company’s third-quarter earnings are pegged at $2.03 per share. COP has a four-quarter earnings surprise of 4.47%, on average.
Constellation Energy Corporation (CEG - Free Report) currently has an Earnings ESP of +6.05% and a Zacks Rank #2. The Zacks Consensus Estimate for Constellation’s third-quarter sales implies an improvement of 12.5% from the prior-year reported figure.
CEG delivered an earnings surprise of 228.21% in the last reported quarter. Third-quarter earnings estimates, pegged at $1.38 per share, imply a significant improvement from the year-ago quarter’s tally.
DT Midstream, Inc. (DTM - Free Report) currently has an Earnings ESP of +2.45% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter sales is pegged at $226.8 million, suggesting a decline of 3.5% from the year-ago quarter’s tally.
Estimates for DTM’s third-quarter bottom line are pegged at 90 cents per share. The company delivered an earnings surprise of 5.68% in the last reported quarter.
Image: Bigstock
What's in the Cards for First Solar (FSLR) in Q3 Earnings?
First Solar, Inc. (FSLR - Free Report) is slated to report its third-quarter 2023 results on Oct 31 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 94.74%. First Solar has a trailing four-quarter negative earnings surprise of 0.94%, on average.
Factors to Note
Strong bookings and the ramped-up production of Series 7 modules, backed by solid demand in the solar market, are likely to have added impetus to the company’s top line in the third quarter of 2023. An increase in the module average selling price (ASP) must have also boosted its third-quarter revenues.
Moreover, augmented manufacturing capacity may have favorably added to the overall revenue performance in the third quarter.
The Zacks Consensus Estimate for FSLR’s third-quarter revenues is pegged at $901 million. This suggests growth of 43.3% from the year-ago reported figure.
The strong top-line performance is likely to have aided the bottom line of the company in the third quarter. An increase in module ASPs, lower sales rate costs and higher volumes of modules produced and sold in the United States may have contributed to its gross margins. This must have bolstered overall third-quarter earnings.
The Zacks Consensus Estimate for First Solar’s third-quarter earnings is pegged at $2.08 per share. This implies a massive improvement from the prior-year reported loss of 46 cents per share.
First Solar, Inc. Price and EPS Surprise
First Solar, Inc. price-eps-surprise | First Solar, Inc. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for FSLR this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: The company’s Earnings ESP is -0.94%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: First Solar currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three companies from the same sector you may want to consider as these have the right combination of elements to post an earnings beat this season:
ConocoPhillips (COP - Free Report) currently has an Earnings ESP of +18.19% and a Zacks Rank #2. The Zacks Consensus Estimate for ConocoPhillips’ third-quarter sales is pegged at $14.71 billion.
Estimates for the company’s third-quarter earnings are pegged at $2.03 per share. COP has a four-quarter earnings surprise of 4.47%, on average.
Constellation Energy Corporation (CEG - Free Report) currently has an Earnings ESP of +6.05% and a Zacks Rank #2. The Zacks Consensus Estimate for Constellation’s third-quarter sales implies an improvement of 12.5% from the prior-year reported figure.
CEG delivered an earnings surprise of 228.21% in the last reported quarter. Third-quarter earnings estimates, pegged at $1.38 per share, imply a significant improvement from the year-ago quarter’s tally.
DT Midstream, Inc. (DTM - Free Report) currently has an Earnings ESP of +2.45% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter sales is pegged at $226.8 million, suggesting a decline of 3.5% from the year-ago quarter’s tally.
Estimates for DTM’s third-quarter bottom line are pegged at 90 cents per share. The company delivered an earnings surprise of 5.68% in the last reported quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.